Category: Commercial Insurance

April 1, 2017 brought the implementation of rate increases for flood insurance policies pursuant to the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014. Premium increases are the result of the current deficit the NFIP is in, roughly 20 billion dollars. In addition to being an effort to raise the funds the NFIP needs to respond to... Read Article

Anyone who has attempted to purchase a home requiring flood insurance has heard about elevation certificates. And, as of recently, people who have tried to purchase flood insurance on a home that was built after the 1970s has also become familiar with elevation certificates. Most people want to know, what are they? Elevation certificates are official documentation from a surveyor that certifies the Base Floor... Read Article

Flood Policyholders: Read Your FEMA Letter In an effort to comply with the Homeowner Flood Insurance Affordability Act (AFIAA), FEMA has begun mailing letters to all flood policyholders. The purpose of these letters are to efficiently communicate flood coverage provided to the policyholder. We at Beckerman strongly recommend reading them upon receipt. There are three main points that these letters are trying to convey... Read Article

If tangible property is an integral part of business operations, understanding the co-insurance clause in property insurance is important to ensure that, in the event of a total-loss, a claim payout will be equivalent to your purchased limits. This applies to a variety of property policies and adhering to the co-insurance clause is beneficial for both the carrier and the insured. It is important to... Read Article

Managing the costs of all the insurance policies necessary to ensure a business is fully protected can be overwhelming. Specifically when rates and premiums increase even with no losses or lapse in coverage. Workers Compensation however, offers the opportunity for a business owner to decrease their premium through the Experience Modification Rating, (EMR). For companies that qualify for an EMR, it would be prudent to... Read Article

South Jersey Office

Beckerman & Company Provides Auto Insurance, Home Insurance, Coastal Home Insurance, Business Insurance, Life Insurance, and Insurance for Government Agencies to All of New Jersey, Including New York, New Jersey, Connecticut, and Pennsylvania.